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Mortgage Compliance News | Mortgage Compliance Newsletter | Mortgage Regulations
News about complying with mortgage laws, rules and regulations.
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| CFPB Updates Exam Procedures
Reflects new mortgage regulations
Nov. 27, 2013
By Mortgage Daily staff
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New procedures have been published that reflect new mortgage rules and what mortgage firms can expect from compliance examinations.
New updates to the Consumer Financial Protection Bureau's exam procedures were released on Wednesday, a news release said.
The updated procedures are tied to new mortgage regulations that the bureau issued in January and amended through Oct. 15.
Most of the new rules go into effect in January.
The updates are intended to provide financial institutions and other industry participants with valuable guidance on how the CFPB will conduct examinations for compliance with the Truth in Lending Act and the Real Estate Settlement Procedures Act.
"The manual now contains exam procedures for both RESPA and TILA, covering final rules issued by CFPB through Oct. 15, 2013," the notice stated.
Along with the updated manual, the regulator issued additional guidance for RESPA procedures and TILA procedures. |
examination manual 2.0 | RESPA guidance | TILA guidance
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Financial Regulation News | Mortgage Regulations
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.
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